Commonwealth Bank of Australia boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 39,853 shares of the business services provider’s stock after acquiring an additional 2,046 shares during the period. Commonwealth Bank of Australia’s holdings in Waste Management were worth $3,235,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Waste Management by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 163,299 shares of the business services provider’s stock worth $13,283,000 after buying an additional 9,319 shares during the last quarter. Koch Industries Inc. boosted its stake in shares of Waste Management by 24.8% during the 1st quarter. Koch Industries Inc. now owns 9,586 shares of the business services provider’s stock worth $806,000 after buying an additional 1,904 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in shares of Waste Management during the 2nd quarter worth about $992,000. LSV Asset Management boosted its stake in shares of Waste Management by 1.7% during the 2nd quarter. LSV Asset Management now owns 1,271,000 shares of the business services provider’s stock worth $103,383,000 after buying an additional 21,100 shares during the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of Waste Management by 0.4% during the 2nd quarter. Rothschild Asset Management Inc. now owns 789,807 shares of the business services provider’s stock worth $64,243,000 after buying an additional 2,904 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.

In related news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total value of $33,787.32. Following the completion of the sale, the director now directly owns 24,149 shares in the company, valued at approximately $2,009,679.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

A number of equities analysts have recently commented on the stock. ValuEngine downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. BMO Capital Markets restated a “buy” rating and set a $93.00 price objective on shares of Waste Management in a research note on Thursday, July 26th. Finally, Zacks Investment Research downgraded shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.22.

Waste Management stock opened at $91.81 on Friday. Waste Management, Inc. has a one year low of $75.77 and a one year high of $92.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a market cap of $39.39 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business posted $0.81 EPS. Waste Management’s revenue was up 1.7% on a year-over-year basis. sell-side analysts expect that Waste Management, Inc. will post 4.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be paid a $0.465 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.86 annualized dividend and a yield of 2.03%. Waste Management’s dividend payout ratio (DPR) is currently 57.76%.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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